Following the shooting of utility prices and a significant decrease in the cost of solar panels and installation services, solar energy has become a great alternative to electricity for most homeowners. While solar panels might demand massive investment, they offer many benefits and save a lot of money in the long run. Here’s how:
-Reducing The Utility Bills
During your energy audits, you might have noted the shoot in your annual energy bills. The more you use your appliances, the higher the power bill goes. On average, a household receives energy bills of about $3,000 per year. The figures are likely to keep on rising as the economy grows and as you increase home appliances.
On the other hand, solar panels offer a way to generate electricity on the side. It will help you cut back on the energy costs. Solar panels harness energy given to us freely by Mother Nature. In the end, solar systems are efficient and help save a few dollars every month. One of our recent solar installations was for a lovely Scottsdale Senior Care Home, they have been saving hundreds of dollars each month just by switching to renewable energy.
-Benefit From Tax Credits
Since 2016, homeowners installing new solar systems receive the federal tax credit that amounts to 30 percent of the total cost of the solar system. The total cost accounts for both installation and purchasing expenses. What does this mean? When you buy and install a solar panel at $30,000, you will save $9,000 when filing your taxes. This benefit saves a significant percentage of your allocated budgets for solar panel installation.
-Remarkable Returns On Investment
Once you install the solar panels, you only need the sunlight to keep things running. You get to enjoy free electricity supply throughout the useful life of the solar panel or until when it will develop any problems. The system has low maintenance costs. This means that you will recover the initial investment fee quickly by cutting on all electricity costs. In some cases, where your solar system produces power in surplus, the Solar Renewable Energy Credits allow owners to sell the excess power to utility companies. This opportunity can generate an incredible return on investment.
-Cushions Owners From Power Disruptions
The conventional electricity supply is prone to disruptions and power outages. Sometimes you can experience power outages for days which may cause inconveniences and significant losses. For instance, if your fridge goes off, it will result in food spoilage. Similarly, your computer could go off due to power disruption, and this comes between you and your work deadlines. Solar power protects you from such disruptions and doesn’t depend on utility companies for repair or maintenance practices.
-Increasing Your Property Value
According to Chicago solar installers, if you are planning to sell your home, a solar system can increase the value of your home. With many home buyers looking to save on electricity bills, homes with solar panels are more popular in today’s market. If you want to increase the value of your house, installing a solar panel will do the trick. In the long-run, you will get an impressive return on investment for mounting the solar panel.
The solar system requires little or no maintenance practices. In most cases, you will only need to wipe off the dust and check if the system is still working. Most of these practices are do-it-yourself tasks. This proves that the solar panel is a stress-free investment that saves your money.
With all these money-saving benefits, you cannot go wrong with solar energy. It is essential to involve Chicago solar installers for installation service, repair and any technical maintenance of the solar panel.